This morning I decided to take a 10 minute stroll through the skywalk. I took my camera along and filmed my walk. Afterwards, I spent about 20 minutes to process the video with iMovie, and voilà I had a finished YouTube video. Please keep in mind, I’m walking so the camera is a little shaky, but you’ve got good music to listen to for 10 minutes, so take a look.
This morning I saw a great article in the Des Moines Register about how developers are trying to get more creative due to the downturn in the housing market due to the current subprime credit mess and our current poor economy.
In the last two years over 1,000 new condo units have been built with only about 700 of them being occupied. So how do the get the other 300+ occupied? Sales have been slow recently.
The new tactic is offering lease-to-own programs, at least that’s what the developer is going to offer at 111 City Lofts according to the article. It seems that rental market downtown is pretty hot. Apartments at the Hubbell Tower at 904 Walnut St. and the East Village Square at East Fourth and Grand were rented quickly.
This has even affected the building I purchased in. The Liberty Condo project had planned to convert eight to 10 stories of the 12-story Liberty Building into 46 residential condominium units. Now, it is keeping two-thirds of the building as office space for lease. Currently there are only 7 units sold out of the 17 that have been finished, only floors 9, 10 and 11.
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